Key facts
- Flowdesk, a crypto market maker backed by Coinbase Ventures and BlackRock, has secured a full broker-dealer license in Dubai.
- The license was issued by Dubai's Virtual Assets Regulatory Authority (VARA) to its entity Flowdesk Omega FZE.
- This approval enables Flowdesk to offer regulated broker-dealer services to qualified and institutional investors in Dubai.
- Flowdesk also holds authorization in France as a Crypto-Asset Service Provider under the EU's Markets in Crypto-Assets framework.
Flowdesk, a crypto market maker supported by Coinbase Ventures and BlackRock, has been granted a full broker-dealer license in Dubai. The license, issued by Dubai's Virtual Assets Regulatory Authority (VARA) to its entity Flowdesk Omega FZE, permits the company to offer regulated broker-dealer services to qualified and institutional investors within the emirate.
This regulatory milestone in Dubai follows Flowdesk's prior authorization in France as a Crypto-Asset Service Provider under the European Union's Markets in Crypto-Assets (MiCA) framework. Broker-dealers are increasingly vital in the cryptocurrency space, acting as a bridge between traditional finance and digital assets by providing liquidity, custody, and compliance.
Other firms are also expanding their regulated offerings. Earlier this month, crypto market maker Wintermute launched a U.S. broker-dealer to trade stocks and options. In July, digital asset infrastructure provider BitGo and securities marketplace operator OTC Markets announced plans to support over 150 broker-dealers with digital asset trading and custody infrastructure.